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  • Overview
  • Features And Benefits
  • Third-Party Goods Carrying Vehicle Insurance
  • Comprehensive Goods Carrying Vehicle Insurance
  • Calculate Premium
  • Save Premium
  • Renewal Benefits
  • IDV
  • NCB
  • Deductibles
  • Types of Goods Carrying Vehicle Insurance
  • Coverages
  • Compare Plan
  • Premium Components
  • Eligibility and Required Documents
  • Buy / Renew
  • Claim Process
  • Terminologies
  • Policy Download
  • FAQs
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Heavy goods carrying vehicles are prone to many risks due to their massive size and enormous loads while travelling from one place to another. In order to protect truck owners against such unforeseen events, goods carrying vehicle insurance provides coverage against fire, accidents, natural disasters, natural calamities, thefts and so on

  • Under the Motor Vehicles Act, 1988, it is mandatory for all vehicles, including goods carrying vehicles, to be insured against Third-Party (TP) damage to mitigate third-party losses
  • Having a goods carrying vehicle insurance will ensure smooth transport business operations without any hindrance
  • Goods carrying vehicle insurance policy online is issued exclusively for business owners who use their vehicles for commercial purposes
Read More
What is Goods Carrying Vehicle Insurance?
Nil Pending Complaints

Nil Pending Complaints

Over 60 Lakh Happy Customers

Over 60 Lakh
Happy Customers

Why Choose Shriram Goods Carrying Vehicle Insurance?

Why Choose Shriram Goods Carrying Vehicle Insurance?

  • At Shriram General Insurance's digital platform, one can purchase, renew and claim Shriram Goods Carrying Vehicle Insurance policy at ease
  • Get an instant goods carrying vehicle insurance policy with minimal documentation and a speedy application process
  • It is easy and quick to renew a policy with Shriram General Insurance's digital-friendly platform
  • To ensure timely claim settlement, we simplified the entire claim process with 24*7 online claim support
Read More

Shriram Goods Carrying Vehicle Insurance Coverages

Goods carrying vehicle Third-Party Coverage

Third-Party Coverage

According to Section 146 of the Motor Vehicles Act, 1988, third-party coverage is mandatory. Third-party (opponent vehicle owner/pedestrian) goods carrying vehicle insurance covers liability for third-party vehicle/property damage and third-party injury

Goods carrying vehicle Own Damage Coverage

Own Damage Coverage

Own Damage (OD) covers damages resulting from accidents, theft, fire, natural calamities and man-made disasters

Goods carrying vehicle Comprehensive Coverage

Comprehensive Coverage

Comprehensive Coverage includes Third-Party Coverage and Own Damage Coverage as well as Compulsory Personal Accident (CPA). With Shriram Comprehensive policy, choose suitable add-ons to enhance your coverage

How to Calculate Shriram Goods Carrying Vehicle Insurance Premium?

The premium for Shriram Goods Carrying Vehicle Insurance will be determined by various factors, including the type of vehicle, model and variant, year of manufacture, Insured Declared Value (IDV), type of insurance policy and add-ons

Make and Model

The make and model of the vehicle are the primary factors in calculating a goods carrying vehicle insurance premium

Year of Manufacture

It is essential to determine a vehicle's manufacturing year in order to determine its IDV

Insured Declared Value

The Insured Declared Value (IDV) is the vehicle's current value. Essentially, it is the maximum amount the insurer will pay if the vehicle suffers a total loss in an accident

Types of Insurance

In India, third-party goods carrying vehicle insurance is mandatory. The premium for Third- Party goods carrying vehicle insurance depends on the vehicle's cubic capacity

Add-ons

Individuals can choose an add-on based on their needs. This adds to the cost of a standard goods carrying vehicle insurance policy

Benefits of Renewing Shriram Goods Carrying Vehicle Insurance Online

Benefits of Renewing Shriram Goods Carrying Vehicle
Insurance Online

Renewing your goods carrying vehicle insurance policy is quick and easy with Shriram General Insurance's digital platform. Online renewal of goods carrying vehicle insurance provides the following benefits:

  • Saves time and effort
  • No paperwork is required
  • Instant renewal
  • Earn No Claim Bonus
  • Prevent insurance break-ins

How to Save on your Shriram Goods Carrying Vehicle Insurance Premium?

The factors mentioned here can help an insured save on their vehicle insurance premium

01

Choosing Policy

Shriram General Insurance offers several types of goods carrying vehicle insurance policies . A comprehensive insurance policy for goods carrying vehicles is the smart option for protecting your vehicle

02

Selection of Add-ons

Add-ons should be purchased with care. However, choosing the right add-ons will ensure maximum coverage

03

Deductibles

Deductibles are out-of-pocket expenses that the insured must pay during a claim. Be sure to check the voluntary deductibles before you purchase a policy

04

Renewing On-time

Keeping your No Claim Bonus (NCB) intact requires renewing your insurance policy on time. Any break-in insurance will affect the NCB

05

Installing Anti-Theft Devices

Taking theft precautions, such as installing an anti-theft device (approved by ARAI), can result in affordable insurance premiums for goods-carrying vehicles


Frequently Asked Questions

What is a comprehensive insurance policy?

A comprehensive insurance policy protects your vehicle from unforeseen accidents like fire, theft, earthquakes and any third-party liability in terms of death, physical injuries and third-party property damage. It also has personal accident and legal liability cover for paid drivers/cleaners of the insured vehicle at an additional premium

What is the roadside assistance add-on cover?

Roadside assistance is additional coverage for instances where the insured gets stuck in the middle of the road with no way of getting help. The Shriram Goods Carrying Vehicle Insurance policy will ensure that the insured receives all emergency services such as medical assistance, towing, fuel arrangements, minor repairs, alternative transportation and so on

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Inexpensive Premium

Inexpensive Premium

Affordable premium rates with nil commission fees

Paperless Process

Paperless Process

A digital-friendly process with minimal paperwork

2800+ Cashless Garages

2800+ Cashless Garages

Direct claim settlement facility at special garages

Instant Claim Settlement

Instant Claim Settlement

Hassle-free claim settlement at your fingertips

Extensive Add-on Covers

Extensive Add-on Covers

Enhanced protection through unique add-on covers

On-time Customer Support

On-time Customer Support

Round-the-clock online customer assistance

Benefits of Shriram Goods Carrying Vehicle Insurance

Value for Money

  • Affordable premium is guaranteed with nil commission charges

Minimal Documentation

  • A digital-friendly platform with less or no paperwork process

Timely Customer Support

  • 24*7 online claim support for all your claim- related queries

Hassle-free Claims

  • Get your goods carrying vehicle insurance claims settled in 3 simple steps

Extensive Add-ons

  • Exclusive add-ons for enhanced vehicle protection
Benefits of Shriram Goods Carrying Vehicle Insurance

Frequently Asked Questions

When you renew an expired policy, will you lose the No Claims Bonus?

An insured can claim the No Claim Bonus up to 90 days after the expiration of the previous policy. The No Claim Bonus is reduced to 0% if the policy is not renewed within 90 days and no benefit is transferred

Would it be possible to transfer my NCB to a new vehicle?

Yes. The existing vehicle must be sold based on the NCB reserving letter issued by the existing insurer. By transferring the NCB reserving letter, you can take advantage of continuity benefits on the new vehicle

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  • No Claim Bonus (NCB) is given by insurance companies to policy holders who have not made any claims during the policy period
  • NCB is applied on the Own Damage premium that the policy holder has to pay during the next policy period
  • No Claim Bonus can be availed only if the policy holder has not made any claims during the previous policy period
  • No Claim Bonus increases with each consecutive claim-free year, up to a maximum of 50%
  • NCB can be transferred to a new insurance company when the policy holder switches insurers
  • NCB can also be transferred to a new vehicle, provided the policy holder has sold the old vehicle and is purchasing a new one
  • In case the policy holder makes a claim during the policy period, the NCB is forfeited for the next policy period

Importance of No Claim Bonus

  • Maintaining a NCB can be beneficial for policy holders in the long run, as the discount increases with every claim-free year
  • It also reflects positively on the policy holder's driving record and can result in comparatively lesser premiums in the future
  • NCB is transferable when the policy holder switches to a new vehicle or a new insurance company

Period of Shriram Goods Carrying Vehicle Insurance

No Claim Bonus Percentage

No claim made during the preceding full year of Shriram Goods Carrying Vehicle Insurance

20%

No claim made during the preceding 2 consecutive years of Shriram Goods Carrying Vehicle Insurance

25%

No claim was made during the preceding 3 consecutive years of Shriram Goods Carrying Vehicle Insurance

35%

No claim made during the preceding 4 consecutive years of Shriram Goods Carrying Vehicle Insurance

45%

No claim made during the preceding 5 consecutive years of Shriram Goods Carrying Vehicle Insurance

50%

Frequently Asked Questions

What is a No Claim Bonus (NCB) in Goods Carrying Vehicle Insurance?

NCB is a discount offered by insurance companies to policy holders for not making any claims in the previous policy period. The discount can range from 20% to 50% of the own damage premium

Can I transfer my NCB to a new Goods Carrying Vehicle Insurance policy?

Yes, NCB is transferable to a new policy, provided the policy is renewed within 90 days of the previous policy expiry

What happens to my NCB if I make a claim during the policy period?

If a policy holder makes a claim during the policy period, the NCB is reset to zero for the next policy period

Is NCB applicable for third-party claims in Goods Carrying Vehicle Insurance?

No, NCB is only applicable for own damage claims, as it reflects the policy holder's risk profile for their own vehicle

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  • A deductible represents a predetermined sum that insurers subtract from the total claimed expense when settling a claim
  • Deductible is expressed as a fixed amount or a percentage of the claim amount, depending on the policy terms
  • The deductible amount is pre-decided amount and is mentioned in the policy document
  • Deductible is applicable only for certain types of claims, such as own damage claims or theft claims
  • Deductible is not applicable for third-party claims, as the liability is borne entirely by the insurance company
  • There are two types of deductibles that may be part of the Goods Carrying Vehicle Insurance policy:
  • Voluntary Deductibles
  • Compulsory Deductibles

Types of Deductibles

Voluntary Deductible

  • Voluntary deductibles can be chosen by the policy holder at the time of policy purchase or renewal
  • Voluntary deductibles are a way for policy holders to customise their insurance policy based on their risk appetite and budget
  • It is important for policy holders to strike a balance between the voluntary deductible and the premium amount, as a very high deductible may not be financially viable during a claim
  • It is advisable for the policy holders to choose a deductible amount that suits their financial situation and risk appetite

Compulsory Deductible

  • Compulsory deductibles are fixed amounts that are mandatory for certain types of claims, as per the guidelines issued by the Insurance Regulatory and Development Authority of India (IRDAI)
  • Policy holders should carefully consider the deductible amount while choosing a policy, as it can affect the overall cost-benefit analysis of the policy

Frequently Asked Questions

Is the deductible applicable to Third-Party claims under Goods Carrying Vehicle Insurance?

No, the deductible is not applicable to third-party claims, as liability is borne entirely by the insurance company

What is the benefit of choosing a voluntary deductible for Goods Carrying Vehicle Insurance?

Choosing a voluntary deductible can help policy holders lower their premium amount, as they are opting to bear a higher portion of the risk in case of a claim

Is it recommended to opt for a high voluntary deductible in Goods Carrying Vehicle Insurance?

The choice of the voluntary deductible amount depends on the policy holder's financial situation and risk appetite. While a higher voluntary deductible can result in a lesser premium, it should be balanced with the policy holder's ability to pay the deductible amount in case of a claim

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  • Insured Declared Value (IDV) is the maximum amount that an insurance company will pay to the policy holder in case of a total loss or theft of their insured vehicle
  • IDV is an important factor in determining the premium for Goods Carrying Vehicle Insurance, as it reflects the value of the insured vehicle
  • Insured Declared Value (IDV) is the maximum sum assured by the insurance company in case of a total loss or theft of the insured vehicle
  • IDV is calculated based on the manufacturer's listed selling price of the vehicle, minus depreciation, as per the age of the vehicle
  • The IDV of a vehicle is fixed at the time of policy inception and remains constant throughout the policy period, unless the vehicle is modified or a new model is launched
Read More

How to Calculate IDV?

  • The IDV of a vehicle is calculated based on the manufacturer's listed selling price of the vehicle, minus depreciation
  • The depreciation rate for IDV calculation is fixed by the Insurance Regulatory and Development Authority of India (IRDAI) and is based on the age of the vehicle
  • The IDV of a vehicle can be calculated using the formula: IDV = Manufacturer's listed selling price - (Depreciation + Optional accessories, if any)

Frequently Asked Questions

Why is determining a right IDV important?

  • IDV is an important factor in determining the premium for Goods Carrying Vehicle Insurance, as the premium is directly proportional to the IDV of the insured vehicle
  • A higher IDV means a higher premium, as the insurance company will have to pay a higher amount in case of a total loss or theft of the insured vehicle
  • A lower IDV may result in a lower premium, but it also means that the policy holder will receive a lower compensation amount in case of a total loss or theft of the insured vehicle

How is the IDV of a vehicle calculated for insurance purposes?

The IDV of a vehicle is calculated based on its current market value, age, make and model and condition. The age and condition of the vehicle are considered to determine its depreciation value. The IDV is calculated by subtracting the depreciation value from the market value of the vehicle

Can the IDV of a car be increased or decreased during the policy term?

The IDV of a vehicle can be increased or decreased at the time of policy renewal. However, the policy holder must pay an additional premium for an increased IDV, while a reduced IDV will result in a lower premium. It is important to note that the IDV cannot be changed during the policy termC

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Renewing your Goods Carrying Vehicle Insurance policy is quick and easy with Shriram General Insurance's digital platform. Online renewal of Goods Carrying Vehicle Insurance provides the following benefits:

Avoid Legal Liabilities

In India, it is mandatory for vehicle owners to have a valid insurance policy for their vehicles. Failure to renew the policy on time can lead to legal consequences, including fines and penalties. By renewing their Goods Carrying Vehicle Insurance policy on time, insureds can avoid such legal consequences

Saves Time and Effort

Renewal of a Goods Carrying Vehicle Insurance policy online is a quick and hassle-free process. A vehicle owner can compare different policies, choose the suitable coverage for their vehicle and renew their policy online

Instant Renewal

Renewal of a Car Insurance policy online is a simple and hassle-free process. A vehicle owner can compare different policies, choose the required coverage for their vehicle and renew their policy online with additional benefits

Earn No Claim Bonus

No-Claim Bonus is offered by insurers to the insureds who have not made any claims in the previous year. The NCB can range from 20% to 50% of the premium amount, depending on the number of claim-free years

Prevent Insurance Break-ins

Renewing Goods Carrying Vehicle Insurance policy ensures that there is no break in the insurance coverage of the vehicle. This means that vehicle owners can remain protected against risks such as accidents, theft and natural calamities, even if they occur during the renewal process

Frequently Asked Questions

How can I buy zero depreciation cover for Goods Carrying Vehicle Insurance in India?

If you are buying a new Car Insurance policy, you can choose zero depreciation add-on cover to enhance the coverage. It is important to compare different policies to get the right coverage at a reasonable price

What is the significance of add-on cover?

Commercial vehicle owners can enhance the coverage provided by their Goods Carrying Vehicle Insurance policy by opting for add-on covers such as engine protect, shri motor protection and roadside assistance. By renewing their policy, vehicle owners can continue to avail of these add-on covers and enjoy enhanced protection against specific risks

What are the benefits of renewing Shriram Goods Carrying Vehicle Insurance online?

Renewing Goods Carrying Vehicle Insurance policy online is a quick and hassle-free process that can be completed in a matter of minutes. Commercial vehicle owners can compare different policies, choose the best coverage for their vehicle and renew their policy online

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  • Third-party Goods Carrying Vehicle Insurance is a mandatory requirement for all commercial vehicles under the Motor Vehicles Act, 1988. Failure to comply with this requirement can result in penalties and legal consequences
  • Third-party Insurance covers death, bodily injuries, or damage to any property of a third party in case of any accident involving the insured vehicle.

Shriram Third-Party Goods Carrying Vehicle Insurance Claim Process

  • step 1
  • step 2
  • step 3

Register your Claim

  • Register a claim online at the Shriram General Insurance website or over the phone at 1800-300-30000/1800-103-3009 or through the MySGI App

  • Our customer service team shall get in touch with you and guide you throughout the Goods Carrying Vehicle Insurance claim process

Submission of Required Documents

  • Submission of the required documents (FIR copy, Registration certificate, duly signed claim form, goods receipt and other required documents) is mandatory to proceed with the claim process further

Verification and Claim Settlement

  • After receiving the documents, our dedicated surveying team will begin the validation process. Upon completion of the survey, the funds will be sent directly to the recipient

Shriram Third-Party Car Insurance Coverages

Benefits and Coverage

Third-Party Coverage

Own-Damage to the car due to an accident

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Own-Damage to the car due to fire

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Own-Damage to the car due to natural calamities

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Third-Party damage to the car

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Third-Party damage to property

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Compulsory Personal Accident Cover

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Theft of the vehicle

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Cashless Claims

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No Claim Bonus (NCB)

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Riders/Add-ons

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Frequently Asked Questions

What does Third-Party insurance policy cover?

Third-party bodily injury:

Any injury or demise caused to a third-party individual in the accident is covered under third-party Goods Carrying Vehicle Insurance

Third-party property damage:

Any damages caused to the property of a third party, such as their vehicle or other property, are covered under Third-Party insurance

What does a Third-Party insurance policy not cover?

  • Third-Party Goods Carrying Vehicle Insurance does not cover for damages or losses caused to the insured vehicle in an accident
  • It does not cover any injuries or damages caused to the policy holder or their passengers in the accident
  • If the policy holder is driving/has driven under the influence of drugs or alcohol at the time of the accident, then the insurance policy will not cover any damages or losses
  • It will not cover any damages or losses if the vehicle was used for illegal purposes

How is the premium for Goods Carrying Vehicle Insurance calculated in India?

The premium for Goods Carrying Vehicle Insurance in India is calculated based on various factors, including the type and age of the vehicle, its usage, the geographical location, Gross Vehicle Weight (GVW) and the extent of coverage required

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  • Comprehensive Goods Carrying Vehicle Insurance provides a more extensive coverage compared to third-party Goods Carrying Vehicle Insurance and provides a higher level of financial protection to the insured vehicle owner
  • Comprehensive Goods Carrying Vehicle Insurance for commercial vehicles covers damages or losses to the insured vehicle, as well as third-party liabilities
  • It covers damages or losses due to accidents, theft, fire, natural disasters and other events that may cause damage to the insured vehicle
  • It covers a wider range of risks and damages and can help the insured vehicle owner to recover from significant financial losses in case of an accident or other unfortunate events
  • The premium for comprehensive Goods Carrying Vehicle Insurance for commercial vehicles depends on various factors such as the type of vehicle, the age of the vehicle, Gross Vehicle Weight (GVW) and the geographical location
Read More
What is Comprehensive Goods Carrying Vehicle Insurance?
nil pending complaints

Nil Pending Complaints

happy cutomers

Over 60 Lakh
Happy Customers

truck insurance online india

Why Choose Shriram Comprehensive Goods Carrying Vehicle Insurance?

  • Shriram Goods Carrying Vehicle Insurance policy can be purchased, renewed and claimed online through Shriram General Insurance's digital platform
  • Shriram General Insurance's digital platform makes renewing policies easy and quick
  • The entire claim process is simplified with a 20-hour online claim support to ensure timely settlements
  • Enhance your basic policy coverage by adding necessary add-ons at an affordable additional costs
Read More

Features of Shriram Comprehensive Goods Carrying Vehicle Insurance

Budget-friendly Premium

Affordable premiums with nil commission

No Paperwork

A digital-friendly process with minimal documentation

2800+ Network Garages

Direct claim settlement facility at network garages

Fast Claim Settlement

Stress-free claim settlement at your fingertips

Benefits of Shriram Comprehensive
Goods Carrying Vehicle Insurancec

  • End-to-end coverage for an all-round protection
  • Provides extensive add-ons for enhanced coverage
  • Emergency claim support at your convenience
  • Simple and hassle-free claim settlement process
  • 20*7 online customer assistance available

Frequently Asked Questions

Can I switch insurance providers when renewing my Goods Carrying Vehicle Insurance in India?

Yes, you can switch insurance providers when renewing your Goods Carrying Vehicle Insurance in India. This can be a good opportunity to compare different policies and find a policy that perfectly suits your needs and budget

What are the consequences of not renewing my Goods Carrying Vehicle Insurance in India?

Not renewing Goods Carrying Vehicle Insurance in India can lead to a lapse in coverage. This can result in legal and financial penalties in case of an accident or damage. Additionally, it may lead to loss of accumulated No Claim Bonus (NCB) and may result in higher premiums when you decide to renew in the future

How can I avail of the No Claim Bonus (NCB) benefit when renewing my Goods Carrying Vehicle Insurance in India?

The No Claim Bonus (NCB) is provided by insurance providers for policy holders who have not made any claims during the policy period. You can avail of the NCB when renewing the Goods Carrying Vehicle Insurance in India by providing the required documentation to your insurance provider

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Shriram Goods Carrying Vehicle Insurance premium will be determined by a range of factors such as vehicle type, make, model and variant, manufacture year, Insured Declared Value (IDV), policy type and add-ons

Make and Model

One of the primary factors influencing the insurance premium for motor vehicles is the make and model of the vehicle. The premium for a specific vehicle model takes into account several factors, including the vehicle's cost, safety features, Gross Vehicle Weight (GVW) and the likelihood of theft

Year of Manufacture

The insurance premium of a vehicle in India can be influenced by its year of manufacture, as the age of a vehicle plays a crucial role in determining its risk assessment. As a vehicle ages, its chances of breakdowns or wear and tear increase, which raises the possibility of accidents

Insured Declared Value

The Insured Declared Value (IDV) of a vehicle can affect the insurance premium. IDV represents the maximum amount payable by an insurer in case of theft or total loss of the insured vehicle. It is calculated based on the current market value of the vehicle minus depreciation costs

Types of Insurance

In India, there are two types of Goods Carrying Vehicle Insurance provided by the insurers. They are Third-Party Liability insurance and Comprehensive insurance

Add-ons

Add-ons can be purchased by individuals to enhance the protection of the basic policy.

Frequently Asked Questions

1. How does the age of a commercial vehicle affect the insurance premium in India?

The age of the commercial vehicle is an important factor that affects the insurance premium in India. Older vehicles may have a higher risk of breakdowns and accidents and hence may have higher insurance premiums than newer vehicles

2. How does the geographical location affect the insurance premium for commercial vehicles in India?

The geographical location of the commercial vehicle is another factor that affects the insurance premium in India. Vehicles operating in areas with higher risks of accidents, theft or natural calamities may have higher premiums than those operating in areas with lower risks

3. What is cashless claim settlement?

In cashless claim settlement, the policy holders can get their vehicles repaired at network garages without paying anything upfront. The insurance company settles the repair costs directly with the garage, subject to applicable deductions

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The factors mentioned here can help an insured save on their vehicle insurance premium

Choosing Policy

Shriram General Insurance offers several types of Goods Carrying Vehicle Insurance policies. A comprehensive insurance policy for goods carrying vehicles is the smart option for protecting your vehicle

Selection of Add-ons

Add-ons should be purchased with care. However, choosing the right add-ons will ensure maximum coverage

Deductibles

Deductibles refer to a fraction of the claim amount that is deducted during claim settlement. Be sure to check the voluntary deductibles before you purchase a policy

Renewing On-time

Keeping your No Claim Bonus (NCB) intact requires renewing your insurance policy on time. Any break-in insurance will affect the NCB

Installing Anti-Theft Devices

Taking theft precautions, such as installing an anti-theft device (approved by ARAI), can result in affordable insurance premiums for goods carrying vehicles

Frequently Asked Questions

How can I save on the premium for commercial vehicle insurance in India?

One can save on the premium for commercial vehicle insurance in India by choosing a preferable voluntary deductible, maintaining a clean driving record and installing safety devices in the vehicle. Additionally, one can compare different policies to get the right coverage at a reasonable price

Do the Goods Carrying Vehicle Insurance premium calculator calculate premiums accurately?

The Car Insurance premium calculator takes into consideration of all essential factors in order to calculate premiums accurately. Thus it ensures the policy holders to make an informed decision during a policy purchase

Is Shriram Goods Carrying Vehicle Insurance policy customisable?

Yes. The Goods Carrying Vehicle Insurance premium calculator allows policy holders to customise their coverage and choose the add-ons they require. This helps them to personalise their policy and pay only for the coverage they need

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Shriram Goods Carrying Vehicle Insurance policy has Comprehensive and Third-Party Liability Insurance. Choose the preferred add-on or all of them at an additional premium for your additional safety with Shriram Goods Carrying Vehicle Insurance policy online

Types of Shriram Goods Carrying Vehicle Insurance

Goods carrying vehicle Comprehensive Insurance

Comprehensive Insurance

A comprehensive goods carrying vehicle insurance policy is the most preferred coverage option by the insureds. It provides the benefits of Third-Party (TP) coverage (coverage against third-party liabilities) and Own Damage coverage (covers damage/losses incurred to the vehicle owner/vehicle). With the Shriram Goods Carrying Vehicle Insurance policy, a Compulsory Personal Accident (CPA) cover of Rs. 15,00,000/- will always be included at an affordable premium

Coverage includes:

    • Third-Party Injury or Death
    • Third-Party Property Damages
    • Accidental Damages
    • Natural Calamities
    • Man-made Disasters
    • Theft
    • Fire
    • Strike/Riot
    • Add-ons*
Goods carrying vehicle Third-Party Insurance

Third-Party Insurance

In India, a Third-Party (TP) goods carrying vehicle insurance policy is mandatory for all commercial goods carrying vehicles by Section 146 of the Motor Vehicles Act, 1988. A Third- Party (TP) liability goods carrying vehicle insurance policy protects the insured against third- party liabilities (opponent vehicle/property damage or injury/death to a third-party vehicle owner). If your vehicle causes “third-party” property damage, Shriram General Insurance will offer compensation up to Rs. 7,50,000/- as mentioned in the policy document. Unlimited Third-Party personal liability coverage will be provided to the third-party vehicle owners in case of death/injury caused by your vehicle, as per the legal provisions

Coverage includes:

    • Third-Party Injury or Death
    • Third-Party Property Damages

Shriram Goods Carrying Vehicle Insurance Add-on Covers

Nil Depreciation

Nil Depreciation

In a nil depreciation goods carrying vehicle insurance policy, the insurer pays the entire claim amount without considering the depreciation of the vehicle's value. This add-on feature, on the other hand, is highly advisable for everyone because it eliminates the owner's additional

Personal Accident Cover

Personal Accident Cover

It is mandatory to have a Personal Accident Cover as per Government law. It provides coverage for any bodily injury or death of the owner-driver in case of any unfortunate events

Roadside Assistance

Roadside Assistance

In case of an accident or breakdown, Roadside Assistance cover will provide the ins ured with immediate assistance. It includes providing breakdown support, tyre repair service, battery assistance and towing facility to the nearest garage and more

Motor Protection

Motor Protection

In the event of an accident involving an insured vehicle, Shriram Goods Carrying Vehicle Insurance policy provides the insured with an advocate to guide and defend before the police and judicial magistrates


Frequently Asked Questions

Is a Third-Party (TP) insurance policy mandatory in India?

Yes. According to Section 146 of the Indian Motor Vehicles Act, 1988, it is mandatory to buy a Third-Party liability-only policy

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  • What is Covered?
  • What Not Covered?
01

Loss or Damage to your Vehicle

The policy covers you against any loss or damage caused to the vehicle due to the following natural and man-made calamities

02

Natural Calamities

Fire, explosion, self-ignition or lightning, typhoon, hurricane, earthquakes, floods, storms, tempest, inundation, cyclones, hailstorm, frost, landslides or rockslides

03

Man-made Disasters

Riots, strikes, malicious acts, terrorist activities, any violent activities are generally covered as man-made disasters

04

Accidental Damages

Burglary, theft, accidents by external means, any damage in transit by road, rails, inland waterways, lifts, elevators or air

05

Third-Party Personal Liability

The insurance policy provides unlimited coverages, i.e., whatever the court awards as your liability to the third-party due to accidental death or injuries caused by your vehicle

06

Third-Party Property Liability

In case your vehicle causes third-party property damage, the insurer will offer compensation up to Rs. 7,50,000/- for GCCV

01

Accident due to External Factors

Accidental loss or damage to the insured or any person driving with the knowledge and consent of the insured is under the influence of intoxicating liquor or drugs or wilful negligence

02

Vehicles Outside the Defined Territory

Loss or liability while the vehicle is used outside the scope of its limitations of use or being driven by a person not duly licensed

03

Other Accidental Losses

Consequential loss, Depreciation, wear and tear, mechanical and electrical breakdown/failure or breakages will not be covered by Shriram Car Insurance policy

04

Loss due to Nuclear/Radioactive Elements

Loss connected to nuclear or radioactivity or war and related activities is not covered under this policy


Frequently Asked Questions

What are the two types of goods carrying vehicle insurance policies?

  • Third-Party Liability Insurance
  • Comprehensive Insurance
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Benefits and Coverage

Third-Party Coverage

Comprehensive Coverage

Own-Damage to the vehicle due to an accident

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Own-Damage to the vehicle due to fire

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Own-Damage to the vehicle due to natural calamities

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Third-Party damage to the vehicle

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Third-Party damage to property

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Compulsory Personal Accident Cover

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Theft of the vehicle

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Cashless Claims

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No Claim Bonus (NCB)

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Riders/Add-ons

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Frequently Asked Questions

What are the benefits of Shriram Goods Carrying Vehicle Insurance online?

  • Comprehensive coverage for overall protection
  • Provides exclusive add-ons for enhanced coverage
  • Emergency financial support at your convenience
  • Simple and stress-free claim settlement process
  • 24*7 online customer assistance
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A goods carrying vehicle insurance premium is an amount paid by an insured to an insurer for purchasing a policy. Shriram Goods Carrying Vehicle Insurance premium calculation will be based on various factors, such as the policy chosen, cover types, add-ons and policy period

Goods carrying vehicle Third-Party (TP) Premium

Third-Party (TP) Premium

According to the Indian Motor Vehicles Act, 1988, third-party liability insurance is mandatory in India. TP premiums are calculated based on the cubic capacity of the vehicle’s engine

Goods carrying vehicle Own-Damage (OD) Premium

Own-Damage (OD) Premium

It is a part of the premium, one pays to get coverage against various natural and man-made disasters. Each insurance company will have its own pricing for an Own Damage (OD) coverage premium

Compulsory Personal Accident Cover

Compulsory Personal Accident Cover

The government has made Personal Accident coverage mandatory for vehicle owners/drivers due to the rise in injury cases. Rs. 15 Lakh is the minimum sum insured for this cover

Add-ons

Add-ons

Add-ons are additional covers for the vehicle’s enhanced protection. The premiums depend on the type of add-on chosen by the insured. Some of the popular add-ons are Zero Depreciation cover, Motor Protection cover, Roadside Assistance, Engine and Tyre Protection cover.


Frequently Asked Questions

Can I pay my goods carrying vehicle insurance premium in instalments?

Goods carrying vehicle insurance premiums cannot be paid in instalments. The premium for a commercial vehicle policy must be paid in advance by the insured

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01

Any individual who is 18 years or above with a valid driving licence

02

The person must own a vehicle with an original RC to purchase Shriram Goods Carrying Vehicle Insurance online at ease

03

The complete buy/renew goods carrying vehicle insurance process is online and no paperwork is required. There is no need to upload a scanned copy of the documents to get their goods carrying vehicle insurance

Documents Required for Goods Carrying Vehicle Insurance Claims

  • Registration Certificate with Fitness Certificate
  • Driving License
  • Insurance copy (Optional)
  • Permit
  • Claim Form duly filled and signed
  • Estimate, Bills, Payment receipt and discharge Voucher
  • Goods Receipt (Load Challan/Royalty for GCCV)
  • Signature ID proof (Insured)
  • Customer's bank details with a cancelled cheque for claim payment through (NEFT)
  • Customer's bank details with a cancelled cheque (Where the Premium is greater than 25,000/-)
  • FIR (If filed or required) Others (If required by the claims team, correlating with the vehicle type and severity of the accident)
Documents Required for Goods Carrying Vehicle Insurance Claims

Frequently Asked Questions

What are the key features of Shriram Goods Carrying Vehicle Insurance?

  • Direct settlement facility at special network garages
  • Hassle-free claim settlement
  • Enhanced protection through unique add-on covers
  • 6405882aec976e8dc205f4bc
    • Buy Shriram Goods Carrying Vehicle Insurance Online
    • Renew Shriram Goods Carrying Vehicle Insurance Online

    You can instantly purchase a Shriram Car Insurance Policy online via 3 simple steps on our website/MySGI App/call our toll-free number ( 1800-300-3000/ 1800-103-3009) at your convenience

    1

    Enter the basic details of the vehicle to estimate the premium payable

    • Vehicle Registration Number and Mobile Number
    • Details of Manufacturer and Model
    • Date of Registration
    2

    Provide the details of the vehicle owner and choose the suitable policy/add-on covers of your choice

    • Kindly enter the basic details such as Name, Email ID and Address
    • Choose the policy that fits your requirements along with the necessary add-ons to protect the vehicle
    3

    Complete the online payment and get instant goods carrying vehicle insurance

    Shriram Goods Carrying Vehicle Insurance policy online renewal is quick and stress-free. One can renew the insurance policy through 3 simple steps with minimal documentation

    1

    Check the given existing details of your vehicle with the original RC to estimate the renewal premium

    • Registration Number
    • Details of Vehicle Manufacturer, Model and Variant
    • Year of Manufacture
    • Previous Insurance Policy Details
    • Change of Ownership Documents (if applicable)
    2

    Selection of new coverages along with your existing policy

    • Select the policy that fits your requirements along with the necessary add-ons to protect your vehicle
    3

    Complete your online payment and renew the goods carrying vehicle insurance policy instantly

    • Kindly complete the online payment by selecting the preferred payment method (Debit Card, Credit Card and Net Banking) on the go and get your Shriram Goods Carrying Vehicle Insurance policy renewed

    Frequently Asked Questions

    When should I renew my Shriram Goods Carrying Vehicle Insurance?

    Renew your policy before the expiry of the existing policy. Renewing on time keeps the vehicle protected against risk without any break-ins. You can also benefit from a No Claim Bonus (NCB) for claim-free years (NCB) on the next policy renewal

    How to Claim Shriram Goods Carrying Vehicle Insurance?

    With Shriram Goods Carrying Vehicle Insurance , your claim settlement process is stress-free now

    Get your Shriram Goods Carrying Vehicle Insurance Claim Settlement in 3 Simple Steps

    • Step 1
    • Step 2
    • Step 3
    Register your Claim

    Register your Claim

    You can file a claim online at the Shriram General Insurance website or over the phone at 1800-300-30000/1800-103-3009 or through the MYSGI App. Our customer service team will guide you throughout the Goods Carrying Vehicle Insurance claim process

    Submission of Required Documents

    Submission of Required Documents

    Submission of the required documents (Registration certificate, duly signed claim form, goods receipt and other required documents) is mandatory to proceed with the claim process further

    Verification and Claim Settlement

    Verification and Claim Settlement

    As soon as your documents & process get verified & completed, we will initiate the funding process and disburse the funds directly to the recipient after verification

    Benefits of Shriram Goods Carrying Vehicle Insurance Online Claim Process

    • Instant Claim Notifications
    • Quick Claim Settlement
    • Simple Claim Procedure
    • Exceptional Customer Assistance
    • Dedicated Claim Support
    Benefits of Shriram Goods Carrying Vehicle Insurance Online Claim Process

    Frequently Asked Questions

    How to register a claim for Shriram Goods Carrying Vehicle Insurance?

    Visit the Shriram General Insurance website or MYSGI App or call at 1800-300-30000/1800- 103-3009 to register a claim. You will be contacted by our customer service team and guided throughout the goods carrying vehicle insurance claim process

    Can I check the status of my Shriram Goods Carrying Vehicle Insurance claim online?

    Yes. Kindly login to our website/MYSGI app with the policy number to check your Shriram Goods Carrying Vehicle Insurance policy claim status

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    Insured Declared Value (IDV)

    Insured Declared Value (IDV)

    The vehicles are insured for a fixed sum known as the Insured Declared Value (IDV). IDV calculation is based on the manufacturer's listed selling price of the vehicle plus the listed price of any accessories (less depreciation for each year) according to the schedule specified by the Indian Motor Tariff IDV. Insured Declared Value is the current market value of the vehicle that starts depreciating when it comes out of the showroom. IDV is the compensation amount if the vehicle undergoes total loss or thef

    No Claim Bonus (NCB)

    No Claim Bonus (NCB)

    No Claim Bonuses (NCBs) are offered to those insureds who do not make any claims during the policy term. With consecutive claim-free years, you can get NCB accordingly until it reaches up to 50%

    Add-on

    Add-on

    Add-on provides enhanced protection for the insured vehicle at an additional premium. An insured can enhance the coverage benefits of their basic insurance policy by purchasing an add-on cover at an additional cost


    Frequently Asked Questions

    What is claim settlement?

    The insured submits a claim to the insurer, requesting compensation for expenses incurred due to an unfortunate accident. It depends on the vehicle's Insured Declared Value (IDV) and the type of insurance policy purchased - Third-Party or Comprehensive. There are two ways to settle a claim: Cashless Claim and Reimbursement

    What is known as a Deductible?

    Deductible is a payment that the insured has to make before the insurer covers the claim. There are two types of deductibles: compulsory and voluntary deductibles

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    Download Goods carrying vehicle insurance policy

    Step 01

    Visit the SGI website/MYSGI App home page and scroll to the top to access your Shriram Goods Carrying Vehicle Insurance account

    Step 02

    Enter your vehicle’s insurance policy number and click "Download" to get the policy document

    Note: An insured can also receive Shriram Goods Carrying Vehicle Insurance policy document via email too

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    Why should I buy/renew my goods carrying vehicle insurance policy online?

    Buying goods carrying vehicle insurance policy online is easy, secure and fast. Some other benefits are:

    • Get maximum coverage for your vehicle with comprehensive policy
    • No paperwork is required to buy your insurance policy online
    • Multiple payment options (Credit Card, Debit Card or Net Banking) are available

    What are the benefits of online goods carrying vehicle premium calculators?

    • It is easy and time-saving
    • Error-free premium calculation
    • Simple to compare the premiums
    • It is absolutely free
    • Gives an idea about the premium amount

    How do I transfer my NCB to the new vehicle?

    The existing vehicle must be sold based on the NCB reserving letter issued by the existing insurer. Based on the NCB reserving letter, the benefit can be transferred to the new vehicle to ensure NCB continuity

    Why is a Third-Party (TP) goods carrying vehicle insurance policy not enough?

    Third-Party (TP) goods carrying vehicle insurance policy covers the third-party liabilities alone. Meanwhile comprehensive insurance covers the vehicle against any third-party liabilities and own damages to the vehicle

    Is the premium calculation similar for commercial and private vehicles?

    No. It is different depending upon the vehicle category

    Can I pay my Shriram Goods Carrying Vehicle Insurance policy premium in instalments?

    No. Shriram Goods Carrying Vehicle Insurance policy premium cannot be paid in instalments. The entire premium amount must be paid before the risk starts

    When does a claim get settled?

    Upon receipt of all the relevant claim documents, along with the original repair invoice and satisfaction voucher/discharge voucher and NEFT details, the claim will be processed within a short timeframe (*T & C apply)

    In order to process a claim intimation, what is the minimum claim amount required?

    No, there is no such limit available. The insured can claim any amount from the insurer at any time within the policy period

    What is the validity of Shriram Goods Carrying Vehicle Insurance policy?

    The minimum validity of Shriram Goods Carrying Vehicle Insurance policy is 12 months. The maximum validity depends upon the policy period chosen at the time of purchase/renewal

    I have lost a Car Insurance policy. Can I get a duplicate one?

    Yes, you can submit a written request to the same office that issued the policy. A duplicate policy copy will be issued at a nominal cost

    Is it possible to have two insurance policies for the same vehicle with two different companies?

    A person can only have one goods carrying vehicle insurance policy at a time. If he or she has two policies, they can cancel one of them and be refunded based on the double insurance status

    What our customers say ?

    What our customers say

    Divyansh says,

    Shriram General Insurance is the best travel insurance and i can confidently recommend.Truly the best online travel insurance site in India. Thanks to Shriram General Insurance !.

    Vidit says,

    Shriram General Insurance has a very encouraging overseas travel insurance program for us. Overall it's very nice

    Malik says,

    I had some doubts when reading the terms and conditions of my travel insurance. I called the Shriram General Insurance helpline and they cleared up most of my doubts.

    Prakash says,

    SGI Health Insurance currently administers my health insurance policy. I still have a bonus and there hasn't been a claim. This insurance covers all hospitals for cashless payments. Customer support is excellent.

    Apeksha says,

    This group health insurance policy, which has a Rs. coverage amount, was obtained from Shriram General Insurance. They have connections with several hospitals and also offer cashless medical care.

    Ashwin says,

    “I am satisfied with Health insurance claim service” Got my Health  insurance policy claim. Thanks a lot for quick response. Great customer satisfaction policy

    Chiranjeev says,

    My Commercial Vehicle Insurance is the best. These are very good, helpful and wonderful people. I am pleased to join Shriram General Insurance commercial vehicle insurance plan.

    Purushottam says,

    For commercial vehicle insurance, I can suggest Shriram General Insurance with confidence. I'm relieved that my vehicle is now protected and secure, I appreciate Shriram General Insurance!

    Santram says,

    Shriram General Insurance provides me with a commercial vehicle insurance policy that fully protects the vehicle for a comparatively small outlay of money. Excellent customer satisfaction policy, I'm pleased!

    Amritlal says,

    After taking into account all other plans available, I decided to go with Shriram General Insurance for my personal insurance policy. I am extremely pleased with the outcome of my claim and the amount of time and accuracy put into it.

    Meghna says,

    Taken the personal insurance policy with Shriram General Insurance company around 5 years ago. My colleague is suggested me to take the policy from here. The claim ratio is more compared to others. This was taken for my family benefits and customer service is good. Thank you SGI!!

    Mohan says,

    Five years ago, I chose to invest in a personal insurance policy with Shriram General Insurance Company after being recommended by a colleague. They had one of the best claim ratios and the customer service is great. Taking out this policy has benefited my family immensely and I'd like to take this opportunity to thank Shriram General Insurance for their excellent services.

    Akanksha says,

    I recently took out a home insurance policy with Shriram General Insurance and it covers me if there is any destruction to my property due to natural disasters such as earthquakes. I am very pleased with their customer service and quick response times. This gives me peace of mind knowing that I have this policy in place.

    Raveena says,

    After consulting with many people, I chose to purchase my home insurance from Shriram General Insurance. The experience was quite pleasing & I am glad that I went with them as their policy has proven to be very satisfactory.

    Tejas says,

    Securing my future by taking home insurance from Shriram General Insurance was a great decision. Not only did I get protection from natural and man-made calamities, but the service provided was also excellent.

    Shubham says,

    The add-on covers on my policy were extremely helpful. I got my claim easily and also reserved my NCB.And Shriram has made it so easy to renew any policy online without any tussle, trouble.thank you Shriram General Insurance!

    Amandeep says,

    Shriram General Insurance Co. Ltd is a trustworthy partner to me. They have a sincere and genuine approach towards settling claims, which I highly appreciate and value. They made it easier for me to manage through the tough times.

    Satyaprakash says,

    Shriram General Insurance truly stands out with the great service they provide – claims are processed quickly and effortlessly. I am very appreciative of their support! The quick and stress-free claim process made life easier for me during a trying time.

    Shakeel says,

    Shriram General Insurance really offer affordable two wheeler insurance premium. When my bike was damaged in an accident, I was stressed out but their two wheeler insurance executive took care of the situation quickly & efficiently. Thanks to Shriram General Insurance!

    Samantha says,

    I recently got a two-wheeler insurance policy from Shriram General Insurance and had a great experience. The website was incredibly user-friendly and all the relevant information was easily accessible. I'm glad my two-wheeler is safe and secure now - thank you Shriram General Insurance!

    Vandana says,

    My friend working for Shriram General Insurance suggested I take out a two-wheeler insurance policy from them. I've been renewing it before its expiry ever since and have been pleased with the service.I recently visited their branch and decided to renew my policy with them. The reason I chose them was because they provide first-party insurance with utmost claim amounts, plus this policy includes bumper to bumper coverage.

    Chetan says,

    I was thoroughly satisfied with my decision to get car insurance from Shriram General Insurance. Not only did I find their rates quite reasonable, but the policy coverage was also adequate. I am especially impressed with how efficiently and smoothly they handled my claims.

    Ankit says,

    I can confidently recommend Shriram General Insurance for car insurance as I have been a loyal customer for the last 5 years. Their claims process is very efficient and they respond swiftly to their customers in comparison to the other providers.

    Rahul says,

    I recently switched to Shriram General Insurance for my car insurance and I'm glad I did. The customer service is great, and the policy was issued instantly. I am Very impressed with their services!
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